Ascent Group LLC Grows Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Ascent Group LLC raised its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 11.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,030 shares of the software maker’s stock after purchasing an additional 105 shares during the quarter. Ascent Group LLC’s holdings in Manhattan Associates were worth $258,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MANH. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Manhattan Associates by 124.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 3,479 shares of the software maker’s stock valued at $749,000 after purchasing an additional 1,931 shares during the period. Ritholtz Wealth Management grew its stake in Manhattan Associates by 180.5% in the 4th quarter. Ritholtz Wealth Management now owns 3,484 shares of the software maker’s stock worth $750,000 after acquiring an additional 2,242 shares in the last quarter. Blue Trust Inc. increased its position in shares of Manhattan Associates by 259.4% during the fourth quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock worth $25,000 after acquiring an additional 83 shares during the period. Kowal Investment Group LLC raised its stake in shares of Manhattan Associates by 12.2% during the fourth quarter. Kowal Investment Group LLC now owns 1,367 shares of the software maker’s stock valued at $294,000 after acquiring an additional 149 shares in the last quarter. Finally, Oak Thistle LLC boosted its holdings in shares of Manhattan Associates by 51.1% in the fourth quarter. Oak Thistle LLC now owns 6,762 shares of the software maker’s stock valued at $1,456,000 after purchasing an additional 2,287 shares during the period. Institutional investors own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

MANH has been the topic of several research reports. Redburn Atlantic initiated coverage on Manhattan Associates in a report on Tuesday, May 14th. They set a “buy” rating and a $260.00 price objective on the stock. Loop Capital upped their price objective on shares of Manhattan Associates from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. DA Davidson raised their target price on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Citigroup upped their price target on shares of Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Finally, StockNews.com raised shares of Manhattan Associates from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.43.

Manhattan Associates Stock Performance

NASDAQ:MANH traded down $2.57 during midday trading on Monday, reaching $255.89. 564,713 shares of the stock traded hands, compared to its average volume of 428,629. The business has a 50-day moving average of $233.87 and a two-hundred day moving average of $235.21. Manhattan Associates, Inc. has a 12-month low of $182.97 and a 12-month high of $266.94. The stock has a market capitalization of $15.76 billion, a PE ratio of 83.62 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.22. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The firm had revenue of $265.30 million during the quarter, compared to analysts’ expectations of $255.83 million. During the same quarter last year, the firm earned $0.63 EPS. The business’s quarterly revenue was up 14.8% on a year-over-year basis. Research analysts anticipate that Manhattan Associates, Inc. will post 3.01 earnings per share for the current year.

Manhattan Associates Profile

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.